Secondary Lead: Lacks Advantage Compared to Primary Lead, Secondary Refined Lead Transactions Under Pressure [SMM Lead Daily Review]

Published: Jul 29, 2026 13:26

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SMM reported on July 29:

Today, the market proposed raising the online price of secondary refined lead by 0-50 yuan/mt, with some upstream suppliers quoting 15,600 yuan/mt and an intended delivery premium of 75 yuan/mt, showing strong willingness to hold prices firm; mainstream spot orders were at ex-factory discounts of 75-25 yuan/mt. Downstream procurement sentiment was cautious, with many enterprises considering secondary refined lead prices high and opting for more cost-effective primary lead, showing low acceptance for high-priced secondary lead cargoes. Market transactions struggled to match, and overall trading performance was poor. Today, the SMM secondary refined lead average price was reported at 15,475 yuan/mt, at a discount of 50 yuan/mt to the SMM #1 lead average price. The supplier shipment sentiment was 0.91, and today's secondary refined lead procurement sentiment was 0.97 (historical data can be queried by logging into the database).

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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